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Wednesday, June 18, 2008

GBP-USD statistical pips volume record per day

I was thinking of an idea to calculate the average volumes statistic of the GBP-USD pair in a single day movement. Surprisingly the record shows a very consistent data that one single day most highest volume pips is around 273 on average. And anything that go higher than that for example to 300 pips or more will trigger significant amount of reversal.

You can study this further on yourself on other pairs using the candlestick you will see the high and low points and minus them see to get the difference. This is a piece of useful data that can help you in technical analysis to estimate the overall movement on daily basis. Then you can use it to measure the likelihood of reversal or continuation on the next day of trading.